This index is important for prelims. Remember the agency which came out with it and its purpose.
NITI Aayog has called for the creation of an objective and transparent formula to distribute central funds to states under the centrally sponsored schemes (CSS)
Decision in this regard was taken by Appointments Committee of the Cabinet (ACC) headed by Prime Minister Modi in New Delhi.
A NITI Aayog panel on innovation has recommended that the private sector should help fund R&D, including in research labs at universities and startups.